Tower Research Capital LLC TRC Acquires 65,972 Shares of ING Groep (NYSE:ING)

Tower Research Capital LLC TRC grew its position in ING Groep (NYSE:ING - Free Report) by 253.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,002 shares of the financial services provider's stock after acquiring an additional 65,972 shares during the period. Tower Research Capital LLC TRC's holdings in ING Groep were worth $1,442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in shares of ING Groep in the fourth quarter valued at approximately $14,375,000. State Street Corp lifted its stake in shares of ING Groep by 1.3% during the third quarter. State Street Corp now owns 358,479 shares of the financial services provider's stock valued at $6,510,000 after acquiring an additional 4,542 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in ING Groep by 18.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider's stock valued at $1,442,000 after acquiring an additional 14,476 shares during the last quarter. ABC Arbitrage SA bought a new position in ING Groep in the fourth quarter valued at about $10,129,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in ING Groep by 97.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider's stock worth $814,000 after purchasing an additional 25,624 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

ING Groep Trading Up 1.1 %

NYSE ING traded up $0.21 on Monday, reaching $19.39. The company had a trading volume of 1,538,664 shares, compared to its average volume of 2,291,466. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79. The stock's 50 day moving average is $18.86 and its 200-day moving average is $17.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market cap of $67.83 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Equities analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.6526 dividend. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date is Friday, April 25th. This represents a dividend yield of 5.1%. ING Groep's payout ratio is 60.75%.

ING Groep Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.